What happens when a 9-year-old's sense of justice grows into a $2.2 billion investment banking career dedicated to employee ownership? In this episode, I sit down with John Hoffmire, research associate at Oxford's Center for Mutual and Co-owned Business and founder of an investment banking firm that facilitated massive ESOP transactions. John shares his unconventional journey from working with displaced farm workers in California to becoming a leading voice in employee ownership finance, revealing why he chose the challenging path of making employee ownership deals bankable.We explore the financial realities behind employee ownership transitions, from the struggle to raise capital for EO-focused funds to the critical role of "bankable" CEOs in deal success. John opens up about the contradictions of working in high finance while staying true to his mission of economic justice, and introduces a revolutionary concept for expanding employee ownership globally through nonprofit surplus-sharing models. This conversation is packed with hard-won insights for anyone curious about the financial mechanics that make alternative exits possible.Timestamps:00:00 Introduction and Guest Overview 01:51 Early Career Path to Employee Ownership 02:10 From California Farm Workers to Finance 05:03 Why John Considers Himself "Lucky" 06:53 From Bain & Company to Investment Banking 08:01 The Discomfort of Corporate Contradictions 09:48 The 9-Year-Old's Revelation About Poverty 11:25 Why Investment Banking for Employee Ownership 20:55 Employee Ownership in Countries Without Tax Support 24:01 Nonprofit Surplus-Sharing as EO Alternative 28:28 The Dignity Principle in Employee Ownership 33:36 Transition from Practitioner to Academic 37:08 Policy Advice: Start with One Case Study 39:53 Quick-Fire Questions 41:37 Contact Information and Wrap-UpKey Takeaways:How childhood experiences with poverty and injustice can shape a lifetime career in economic democracyThe fundamental challenge of raising capital for employee ownership funds when you're giving away majority controlWhy "bankable" leadership matters more than perfect financial structures in EO transitionsThe critical importance of dignity as a first principle in employee ownership designWhy starting with one successful case study beats creating perfect policy frameworksThe role of community organizers in building sustainable employee ownership ecosystemsHow going public became an alternative solution when private fundraising failedAbout John Hoffmire:John Hoffmire is a research associate at the University of Oxford Center for Mutual and Co-owned Business and director of the Center on Business and Poverty. He holds a PhD from Stanford and co-hosts the annual Oxford Symposium on Employee Ownership. John founded an investment banking firm that facilitated approximately $2.2 billion in ESOP transactions and has dedicated his career to promoting inclusive economic development through innovative financial structures and employee ownership.Connect with John:Website: cobap.orgLinkedin: https://uk.linkedin.com/in/john-hoffmire-5999621 Connect with Andy Farquharson:LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - [email protected] 

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